Laya to increase prices by 4.4% from April
Laya have become the latest company to increase costs due to demand.
Laya Healthcare has become the latest health insurer to announce price increases, raising the cost of premiums by 4.4% from April 1.
The company says this will be the equivalent of €55 annually.
Managing director Dónal Clancy said it was the first time in two years that Laya had introduced a price increase.
He explained: "This comes after a sustained period of price stability in recent years, largely driven by prudent claim cost management and Covid-19 related disruption in the health system.
"We regularly review our products and prices to ensure that we’re providing great value and an exceptional customer experience to our members, giving them access to more hospitals, consultants and urgent care.
He continued: "Medical inflation remains high — around 8.5% — and this is being compounded by a significant acceleration in the cost of delivering healthcare, notably energy and staffing costs, and pent-up demand for healthcare following Covid-related delays.
"While better medical practices, high-spec technology and improved treatments are all translating into better patient outcomes, they continue to drive medical costs higher, which in turn is having a sustained impact on premiums," Mr Clancy concluded.
Last month, Vhi confirmed it was increasing prices by 4.1% from March.
The company put the increase down to the rising demand for healthcare and the rising costs of providing healthcare to customers.
